It's been a history-filled two months for Wall Street and investors. **** e Exploration Technologies (SpaceX) etched its name in the record books with the largest-ever initial public offering, while the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) all soared to fresh highs.
But the changing of the guard at Wall Street's foremost financial institution, the Federal Reserve, may be the pinnacle of these events. Jerome Powell's second term as Fed chair came to an end on May 15, allowing President Donald Trump's handpicked successor, Kevin Warsh, to officially become head of the central bank.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Although Trump seemingly couldn't usher Powell out the door fast enough -- Powell has chosen to remain on the Board of Governors -- a new Fed chair isn't a panacea for the ideological gap between the president and the Federal Open Market Committee (FOMC), led by Warsh, over interest rates.
Shortly after the start of Trump's second, non-consecutive term, he began publicly chastising Jerome Powell and the FOMC for not aggressively lowering interest rates. These vocal criticisms are what made it clear that Powell wouldn't return for a third term as Fed chair.
But the changing of the guard at Wall Street's foremost financial institution, the Federal Reserve, may be the pinnacle of these events. Jerome Powell's second term as Fed chair came to an end on May 15, allowing President Donald Trump's handpicked successor, Kevin Warsh, to officially become head of the central bank.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Although Trump seemingly couldn't usher Powell out the door fast enough -- Powell has chosen to remain on the Board of Governors -- a new Fed chair isn't a panacea for the ideological gap between the president and the Federal Open Market Committee (FOMC), led by Warsh, over interest rates.
Shortly after the start of Trump's second, non-consecutive term, he began publicly chastising Jerome Powell and the FOMC for not aggressively lowering interest rates. These vocal criticisms are what made it clear that Powell wouldn't return for a third term as Fed chair.
4 months ago
